You read in Chapter 3 that organizations have found that compensation has historically been based on seniority or longevity. You then read in Chapter 4 that organizations are finding that employees...

You read in Chapter 3 that organizations have found that compensation has historically been based on seniority or longevity. You then read in Chapter 4 that organizations are finding that employees may not be motivated with traditional compensation processes and incentive pay may motivate employees to higher levels of quality, productivity and performance. Given these two divergent views on rewards, several topics arise, two of which are listed below. You read in Chapter 5 that competency-based pay, pay-for-knowledge and skills-based pay has become a method to address individual pay and rewards processes within organizations today. Discussions center on the use of these systems and the reasons for adoption or not based on the company’s competitive strategies with people. Also, make sure you respond to any questions others may ask of you during this week. Discussion Board:Address the topics below. In order to participate in a dialogue designed to explore the issues, be sure you respond to at least two of your colleague's responses for each topic. Human capital theory has been advanced as a rationale underlying seniority pay. Merit pay plans appear to be the most common form of compensation in the United States. Although widely used, these systems are not suitable for all kinds of jobs. Pay-for-knowledge pay is becoming more prevalent in organizations today. However, pay-for knowledge pay programs are not always an appropriate basis for compensation. Discuss the conditions under which, and provide examples for, ideal positions for each base of pay. In your discussion also provide examples of positions which would not be a good fit for each base of pay as well. Be sure to provide your rationale.  Book: Strategic Compensation. 7th Edition. Champaign, IL.  Author: Martocchio, J. (2013)